Postal Banking Pilot Program Not Authorized by Congress

Mark Campanale Government Relations, Government Relations Updates

10/28/2021

Ranking Members of the House Financial Services and the Oversight and Reform Committees sent a letter to the Postmaster General regarding the USPS paycheck-cashing services pilot program at East Coast locations. Several points are… 

  • The USPS does not have the authority to expand non-postal services without congressional approval.  
  • During previous Committee negotiations the USPS never mentioned their intention to expand into banking services. 
  • The USPS has consistently incurred losses totaling more than $87 billion over the past 14 years.  

Read the letter here